Stocks staged a broad rally ahead of the three-day Easter weekend as technology shares rebounded, but the blue-chip Dow index still suffered its first quarterly loss in more than two years.
The Dow closed the quarter 2.3% lower and the S&P 500 slid 2.7% in the period, while the Nasdaq came in with a 2.3% gain even after tumbling 2.9% in March.
Technology finished at the top of today’s sector standings, adding 2.2% after big losses on Tuesday and Wednesday; Microsoft, Facebook and Alphabet gained between 2.1% and 4.4% in today’s trade, and Apple ended 0.8% higher, but a late bout of selling pulled the company and the broader market from its session high.
The tech sector fell 4% for March but still remains at the top of the 2018 sector standings with a YTD gain of 3.2% vs. a 1.2% YTD loss for the S&P 500.
As for the 10 remaining S&P sectors?
Nine finished higher, led by energy (+2.2%) and materials (+1.9%).
In the consumer discretionary sector (+1.4%), Amazon fell as much as 4.6% after a derogatory tweet from President Trump before rebounding to finish up 1.1%.
The financial group finished a step behind the benchmark index, adding 1.3%, as Treasury yields fell; the benchmark 10-year yield slipped 4 bps to 2.74%.
U.S. WTI crude oil climbed 0.9% to settle at $64.94/bbl, capping a 5.6% gain for the month.
Cryptocurrency was crushed, while Gold rallied.
